President Ferdinand 'Bongbong' Marcos Jr. has rejected the proposal to import an additional 300,000 metric tons (MT) of sugar, Malacañang announced Wednesday.
According to Press Secretary Trixie Cruz-Angeles, the Chief Executive made the decision as a chairman of the Sugar Regulatory Board.
"The President rejected the proposal to import an additional 300,000 MT of sugar. “He is the chairman of the Sugar Regulatory Board and denied this in no uncertain terms," she said.
In June, the Sugar Regulatory Administration (SRA) warned of the insufficient sugar supply in the country, prompting the prices to surge.
SRA Administrator Hermenegildo Serafica, in an interview, said the agency is looking at importing sugar from Thailand, Vietnam, Malaysia, and Indonesia.
